Before anyone runs out, or logs on, and throws their money into Iraq dinar, do a search of your own. This is from a search on the Kuwait revaluation: From dinardaily .net.
“There was a redenomination for the sole purpose of invalidating the entire dinar supply that was stolen from Kuwait. The important point is when the redenomination occurred there was no change in value. The old dinar was worth just as much as the new dinar. Here are two more articles to go with the New York Times Article. (I removed the links before posting here on IH)
This is a lot different then what people are claiming the Iraqi dinar is going to do! Gurus claim that a policy decision made by the central bank will raise the value of the over 70 trillion dinar anywhere from 100,000 to 400,000 percent. And this has never happened before! This is not what happened in Kuwait! It will not happen for obvious reasons. First the amount of hyperinflation that will come from a move like this will destroy the currency. Second nations want to have the lowest currency because it helps them with exports which strengthens their economy and provides jobs.
So if this post came up during a Google search and you friends are trying to tell you to buy dinar or you are new to the dinar world, I am providing this warning for your benefit. Run away from this so-called investment! There is nothing but hype and rumor that is repeated over and over again just to sell this worthless paper
Here's the international rate of the Kuwaiti Dinar from 1986 to 2008 which shows there was never a devaluation let alone a revaluation. (Removed before posting, too).”
